FRIDAY 6/2/23

Employers added a higher-than-anticipated 339,000 jobs to the U.S. economy in May, the Labor Department reported Friday, though the unemployment rate inched up to 3.7%, from 3.4% in April. Biggest job gains were in professional and business services, government, health care, construction, transportation and warehousing and social assistance. 

On top of Senate passage of the bill to raise the debt ceiling, Wall Street reacted very positively to the Bureau of Labor Statistics’ jobs report Friday, with the Dow Jones Industrial Average up nearly 1.8% before noon.

Scroll down…this column to read about how Congress finally averted federal government debt default.

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QoTY (so far) – “The Kremlin often claimed it had the second strongest military in the world, and many believed it. Today, many see Russia’s military as the second-strongest in Ukraine.” – U.S. Secretary of State Antony Blinken, per Business Ukraine.

--Todd Lassa